Africa-Press – Ghana. Leader of the New Force Movement, Nana Kwame Bediako, widely known as Cheddar, has promised to remove excessive taxes suffocating businesses if elected president in the December 7 elections.
He made the pledge during a meeting with members of the Ghana Union of Traders Association (GUTA) in Accra to understand firsthand the current issues confronting them and to develop avenues they can work together to improve the situation if he becomes president.
“I can’t stand here and say that I’ll create free taxes once you start trading, but definitely I’ll look into it and make it reasonable overnight. Because there’s no point if that’s the only job we have as part of the nation, thus, importing from other countries then at the end of the day, we spend 60 or 70% and by the time we sell, the 30% profit we’re supposed to make is gone either by interest from what we borrowed or by just living the hard life.”
“So, I would definitely revise the taxes,” he said.
Also, the businessman and presidential candidate said his administration would ensure Ghanaian goods have a larger share of the Ghanaian market while implementing measures such as embargoes on foreigners who invade the Ghanaian business landscape.
Take urgent measures to save the cedi – GUTA urges government
This, according to him, would ensure that the wealth generated remains within Ghana.
“I want to infuse industrialization into your trading, that a lot of things that you go to China to bring would be made here and you would be able to distribute them.
“But before I implement that plan, I’d have to place an embargo for you traders by stopping the outsiders who are invading your trading in the country,” he told members of the association.
Furthermore, Dr. Joseph Obeng, President of GUTA reiterated some current issues facing members. Key among them was the rapid depreciation of the local current which he said has rendered some businesses bankrupt.
He asked the New Force Movement leader to include plans to curtail the cedi depreciation in his manifesto to ensure timely compliance with traders, entrepreneurs, and industrialists.
“Our major concern as businesses now are with exchange rates. If there’s no stability in your currency, you cannot even industrialize because the products of your industry is not going to be competitive in the sub-region.
“So, there’s a need therefore that we do everything to stabilize our currency. Our capital is being spirited away and now we have crossed the threshold of 15 cedis to a dollar.
“We are also proposing that our tax and duty system be simplified and thrown down to the barest minimum to make tax payment affordable and that will definitely ensure compliance”.
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